Alterna Professional Development Loans

Training Loans

During the professional development activity only the interest on the loan is paid.

The repayment of the principal begins three months upon the completion of the professional development activity or to a maximum of 12 months after receiving the loan.

Loan repayment terms range from 12 to 36 months.

Credit History

OCLF considers applicants, which other lenders will not. This includes applicants who have encountered credit difficulties in the past or have not yet established a credit history. There will nevertheless be certain minimum standards. All applicants will be subject to a credit check and their eligibility assessed by OCLF and its lending partners on a case-by-case basis.

Fees to Borrowers

Upon approval of a new loan OCLF will charge a one-time due diligence fee, equivalent to 3% of the value of the funds advanced.